‎ADNOC L&S َ2 2026 earnings: What to expect

‎<p ><img src="https://argaamplus.s3.amazonaws.com/a7ffef8f-7afd-4125-af38-97c05b9abe13.png" ><span ><span >An ADNOC LS LNG carrier</span></span></p> <div align="center" > <hr align="center" size="2" width="100%"></div> <p ><strong><span ><span >Argaam</span></span></strong><span >highlights the expected Q2 2026 results of</span><span ><span >ADX-listed<a href="https://www.argaam.com/ae-ar/companies/adx/adnoc-logistics-services/overview" target="_blank"><span >ADNOC LS</span></a>. The report also covers recent quarterly profit trends, key performance metrics, and profitability indicators.</span></span></p> <table align="center" border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="6" > <p><strong><span ><span >Quarterly revenue trend – $ mln</span></span></strong></p> </td> </tr> <tr > <td > <p><strong><span ><span >Item</span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Q2 2025</span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Q3 2025</span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Q4 2025</span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Q1 2026</span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Q2 2026</span></span></strong><br> <span ><span ><b>(Consensus)</b></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Revenue</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >1,257.5</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >1,265.6</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >1,311.6</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >1,082.7</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >1,365.2</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Change</span></span></strong><em><span dir="RTL"><span ><span >(%)</span></span></span></em></p> </td> <td > <p align="center" ><span ><span >+39.8%</span></span></p> </td> <td > <p align="center" ><span ><span >+36.3%</span></span></p> </td> <td > <p align="center" ><span ><span >+48.8%</span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >(8.4%)</span></span></span></p> </td> <td > <p align="center" ><span ><span >+8.6%</span></span></p> </td> </tr> </tbody> </table> <div ></div> <p></p> <table align="center" border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="6" > <p><strong><span ><span >Quarterly net income development – $ mln</span></span></strong></p> </td> </tr> <tr > <td > <p><strong><span ><span >Item</span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Q2</span></span></strong><br> <strong><span dir="RTL"><span ><span ><strong>2025</strong></span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Q3</span></span></strong><br> <strong><span dir="RTL"><span ><span ><strong>2025</strong></span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Q4</span></span></strong><br> <strong><span dir="RTL"><span ><span ><strong>2025</strong></span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Q1</span></span></strong><br> <strong><span dir="RTL"><span ><span ><strong>2026</strong></span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Q2</span></span></strong><br> <strong><span dir="RTL"><span ><span ><strong>2026</strong></span></span></span></strong><br> <span ><span >(</span></span><strong><span >Consensus</span></strong><span ><span >)</span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Net income</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >228.8</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >205.4</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >223.8</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >202.7</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >418.4</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Exceptional items</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >0.0</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >0.0</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >29.2*</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >0.0</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >0.0</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Net income before one-offs</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >228.8</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >205.4</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >194.6</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >202.7</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >418.4</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >EPS excluding one-offs </span></span><span >(cent/shr)</span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >3.09</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >2.78</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >2.63</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >2.75</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >5.66</span></span></span></p> </td> </tr> </tbody> </table> <div ></div> <p ><span ><span >*Gain from the disposal of property, plant and equipment of $11.4 million, and charges related to the termination of non-equipped vessel lease contracts of USD 17.9 million.</span></span></p> <p ></p> <p ><strong><span ><span >Key developments in Q2 2026:</span></span></strong></p> <p ><span ><span >- The company announced the delivery of the LNG carrier "Al Taweelah," which is the sixth new carrier under its fleet expansion program, with a capacity of 175,000 cubic meters, built at Jiangnan Shipyard, China.</span></span></p> <p ><span ><span >- The board approved an interim cash dividend for shareholders of 4.23 fils per share for Q1 2026.</span></span></p> <p ><strong><span ><span >Consensus forecast for Q2 2026 earnings:</span></span></strong></p> <p ><span ><span >Consensus estimates indicate the group will deliver net profit of $418.4 million, covered by five research firms. This figure is 83% higher than the company's result in the same quarter of 2025, as shown in the following table:</span></span></p> <table align="center" border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="2" > <p><strong><span ><span >Consensus estimates by research houses – $ mln</span></span></strong></p> </td> </tr> <tr > <td > <p><strong><span ><span >Research House</span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Estimate ($ mln)</span></span></strong></p> </td> </tr> <tr > <td > <p><strong><span ><span >Goldman Sachs</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >626.0</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Morgan Stanley</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >482.8</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >United Securities</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >381.0</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >FAB Securities</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >355.0</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Bernstein</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >247.0</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Consensus estimate</span></span></strong></p> </td> <td > <p align="center" ><strong><span dir="RTL"><span ><span >418.4</span></span></span></strong></p> </td> </tr> <tr > <td > <p><strong><span ><span >Net profit before exceptional and non-recurring items</span></span></strong><em><span >(Q2 2025)</span></em></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >228.8</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Variance</span></span></strong><em><span dir="RTL"><span ><span >(%)</span></span></span></em></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >+83%</span></span></span></p> </td> </tr> </tbody> </table> <div ></div> <p></p> <table align="center" border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="3" > <p><strong><span ><span >Share Performance</span></span></strong></p> </td> </tr> <tr > <td > <p><strong><span ><span >Item</span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Company</span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span >Market</span></span></strong></p> </td> </tr> <tr > <td > <p><strong><span ><span >Change YTD</span></span></strong></p> </td> <td > <p align="center" ><span ><span >+5.74%</span></span></p> </td> <td > <p align="center" ><span ><span >+1.09%</span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Change </span></span></strong><em><strong><span >(Last 12 months)</span></strong></em></p> </td> <td > <p align="center" ><span ><span >+33.48%</span></span></p> </td> <td > <p align="center" ><span ><span >(1.91%)</span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Previous close</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >6.26</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >10,101.64</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Recurring P/E</span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >15.17</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >22.41</span></span></span></p> </td> </tr> <tr > <td > <p><strong><span ><span >Trailing 12-Month EPS Excluding Non-Recurring Items</span></span></strong><em><span >(fils/shr)</span></em></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >41.28</span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >--</span></span></span></p> </td> </tr> </tbody> </table> <div ></div> <p></p>

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Argaam - UAE News · Trade Publication

Published

5th August 2026

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argaam.com

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